A Home Equity Line of Credit (HELOC) gives you a flexible way to borrow against the value of your home. You borrow only what you need, when you need it, and make payments on the amount you actually use. Think of it as a revolving credit line with a much lower rate than most credit cards or personal loans. Use it for projects, education, debt consolidation, or unexpected expenses — and enjoy the convenience of borrowing and repaying on your schedule.

Common HELOC Uses

A HELOC can help you cover a wide range of expenses, including:

• Home improvements or renovations
• Consolidating higher-rate debt
• Education expenses
• Major purchases or life events
• Medical bills
• Emergency expenses

WHY CHOOSE A KTCCU HELOC

• Flexible access to funds – Borrow, repay, and borrow again during your draw period.
• Typically lower rates than credit cards – Save money with competitive, variable interest rates.
• High loan-to-value – Borrow up to 90% of your home’s value (combined LTV), subject to credit and underwriting.
• Appraisal savings – No appraisal required for lines under $50,000.
• Convenient draw and repayment – 5-year draw period; repayment term based on your credit limit (up to 15 years for larger balances).
• Easy online application – Apply securely online in just a few minutes.
• Local decisions, fast approvals – All applications reviewed right here at KTCCU.

How It Works

Your HELOC has two phases:

Draw Period (first 5 years)

• Borrow as needed
• Pay on the amount you use
• As you repay, the funds become available again

Repayment Period

• Begins after the draw period
• Based on your credit limit
   

Repayment options include:

• Up to 84 months for balances up to $10,000
• Up to 120 months for balances of $10,000.01–$30,000
• Up to 180 months for balances over $30,000

Your HELOC rate is tied to the Wall Street Prime Rate (Prime) and may adjust over time, subject to both a minimum floor rate and a maximum cap.*

What to Expect When You Apply

1. Submit an online application

Answer a few questions and apply in minutes with our secure online application.

Not a member yet? You can check eligibility before applying.

2. Wait while we review your application

Our lending team will review your application and follow up if supporting documents (e.g., proof of income or insurance) are needed.

3. Review and sign your loan documents

Review and sign your closing documents. Once completed, we will finalize your HELOC.

4. Use your funds when you need them

After closing, your credit line is ready. Borrow, repay, and borrow again any time during your draw period.